{"id":5171,"date":"2012-03-05T18:43:24","date_gmt":"2012-03-06T01:43:24","guid":{"rendered":"http:\/\/blog.cucollector.com\/?page_id=5171"},"modified":"2012-03-05T18:43:24","modified_gmt":"2012-03-06T01:43:24","slug":"mvconnect-llc-mvtrac-digital-recognition-network-inc-drn-and-vigilant-video-vigilant-announce-a-transaction-related-to-a-license-of-mvtracs-historical-tracking-patent","status":"publish","type":"page","link":"https:\/\/curepossession.com\/mvconnect-llc-mvtrac-digital-recognition-network-inc-drn-and-vigilant-video-vigilant-announce-a-transaction-related-to-a-license-of-mvtracs-historical-tracking-patent\/","title":{"rendered":"MVCONNECT, LLC (MVTRAC), Digital Recognition Network, Inc. (DRN) and Vigilant Video (Vigilant) Announce a Transaction Related to a License of MVTRAC\u2019s Historical Tracking Patent"},"content":{"rendered":"

\"\"<\/a>For Immediate Release<\/strong><\/p>\n

Palatine, IL (February, 1 2012)<\/strong> \u2013 <\/strong>MVTRAC, a premier provider of cradle-to-grave location and recovery solutions and home of the neural ALPR system called The Intelligent Data Network\u2122<\/em>, is pleased to announce a transaction between MVTRAC, DRN and Vigilant, involving a license of MVTRAC\u2019s ALPR historical tracking patent. The undisclosed terms of the transaction conclude all litigation between the parties.<\/p>\n

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\u201dWe are pleased to announce DRN and Vigilant Video as additions to our list of growing patent licensees.\u00a0 The transaction brings increased enterprise value for all three companies, while allowing us all to focus on our business with less distractions,\u201d explains Scott A. Jackson, Chief Executive Officer for MVTRAC. \u201cMVTRAC\u2019s intellectual property will be protected at all costs, so licensees such as DRN and Vigilant Video can grow their businesses knowing that anyone with a low cost camera and a computer cannot dip into their market share without the significant investment needed to achieve long term success.\u201d<\/p>\n

\u00a0<\/strong><\/p>\n

Expounding on the agreement with MVTRAC, Whitney Neve, VP of Brand & Corporate Development for DRN, commented that \u201cDRN has collected and aggregated the largest known license plate recognition database with over 680 Million ALPR records. Such aggregation and maintenance comes at a great expense and effort in both human capital and equipment, and this transaction is intended to increase our enterprise value and protect our investment in growing our business.\u201d<\/p>\n

 <\/p>\n

According to Luke Smith, MVTRAC\u2019s Executive Vice President of Business Development, \u201cWe are the leader in ALPR, collecting millions more license plates and far more accurate license plates than any other company.\u00a0 The transaction is a huge milestone for MVTRAC and our core values because we\u2019ve spent millions of dollars on our intellectual property and The Intelligent Data Network\u2122.\u00a0 In completing this deal, MVTRAC, DRN and Vigilant have made a statement that they will work to harmonize the recovery industry, foster healthy competition, and protect their investments from the encroachment of unlicensed and often undercapitalized competitors.\u00a0 Other companies with financial stability and long term staying power can demonstrate their own commitment to maintaining high industry standards by themselves becoming licensees.\u201d Smith added, \u201cRecovery agents and lenders should be wary of purchasing an ALPR system or historical data from companies not licensed with MVTRAC.\u00a0 The cornerstone of ALPR is historical tracking, and Forwarding or Skip Locating companies who facilitate or purchase historical tracking data from unlicensed ALPR companies will expose their lender customers and recovery agents to liability for infringement.\u201d<\/p>\n

About MVTRAC — <\/strong>Home of The Intelligent Data Network\u2122, MVTRAC is now the leading provider of on-demand data solutions for auto finance, government and law enforcement organizations. Utilizing a national network of digital recognition technology devices, MVTRAC receives real-time data capture from these systems and stores the intelligence in a centralized database. Recognized now as the largest data capture network in the nation, MVTRAC continues to grow through partnerships with government agencies and third-party camera owners at traffic lights, tollbooths, airports, major transportation hubs, security centers and retail\/commercial parking lots. \u00a0With a national network of hundreds of Subscribers in all the major metropolitan areas, MVTRAC is capturing millions of plates per week and increasing the recovery dollars lift to Auto Finance and the revenue for the Subscribers exponentially.\u00a0 For more information visit www.mvtrac.com<\/a>. \u00a0\u00a0Press Inquiries: | Press@mvtrac.com<\/a> | 847-485-2300<\/p>\n

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About DRN<\/strong> – -Digital Recognition Network is the only asset location company that combines proprietary license plate recognition (LPR) technology, a national network of LPR camera-equipped vehicles, and integration with repossession software companies to create an asset location solution designed specifically for automotive lenders and recovery professionals. DRN’s LPR2.0<\/sup>\/Locate, Pickup, Real-Time platform further establishes DRN as a leader in asset location technology and services.\u00a0 With a national network of hundreds of recovery professionals (“Affiliates”) operating in all of the major metropolitan areas 24\/7, DRN is increasing recovery rates and reducing risk for lenders and repossession professionals all over the United States. To date, DRN’s Affiliate network has scanned over 300 million plates and consistently scans in excess of 1 million plates per day.\u00a0 For more information visit www.digitalrecognition.net<\/a><\/p>\n

 <\/p>\n

About Vigilant Video – <\/strong>Vigilant Video is dedicated to providing innovative technologies to both public and private security groups. Each day our company works rigorously to pioneer new methods of delivering valuable information to those who need it most. Our goal is to enhance security enforcement on all levels. We create software applications, coupled with unparalleled customer support, to maintain our position as an innovative leader in providing video content analysis solutions for each client.<\/p>\n","protected":false},"excerpt":{"rendered":"

For Immediate Release Palatine, IL (February, 1 2012) \u2013 MVTRAC, a premier provider of cradle-to-grave…<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":1,"comment_status":"open","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-5171","page","type-page","status-publish","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/curepossession.com\/wp-json\/wp\/v2\/pages\/5171"}],"collection":[{"href":"https:\/\/curepossession.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/curepossession.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/curepossession.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/curepossession.com\/wp-json\/wp\/v2\/comments?post=5171"}],"version-history":[{"count":0,"href":"https:\/\/curepossession.com\/wp-json\/wp\/v2\/pages\/5171\/revisions"}],"wp:attachment":[{"href":"https:\/\/curepossession.com\/wp-json\/wp\/v2\/media?parent=5171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}